India made a significant progress in the Intellectual Property (IP ) space. A lot of it’s happening through patent service outsourcing in India. This means, a lot of background work for the numerous patents that are being filed by other countries, are being done out of India.
Experts say, patent services outsourcing, the high value work of legal process outsourcing (LPO) has been a fairly new phenomenon here, hardly four to six years old. According to estimates last year, more than 1.8 million patent applications were filed worldwide.
And the filing costs for these was between $30 billion to $32 billion. But what’s driving growth in the worldwide patent outsourcing market is: Increased offshoring of R&D activity, lack of manpower and the impact of the US Patent Reform Act of 2007.
A study by ValueNotes, a Pune-based research firm shows, revenues from the Indian patent services offshoring industry are estimated at $46 million for 2007. It’s expected to reach $206 million by end 2012. The study reveals the current addressable value of the patent services offshoring market is estimated at $2.2 billion.
As Navtej Saluja, head of intellectual property, Evalueserve, one of the leaders in this space, explains, “A lot of LPO work being done in India has been glorified BPO jobs like filling up forms etc. Patent outsourcing, on the other hand, is a more high end KPO job that requires specific skills and understanding. It involves end-to-end search jobs before a patent is being filed, drafting the papers, patent analytics. That’s why the employer for this type of job hire engineers, scientists, lawyers and train them for IP work”
The good thing is, India hardly has any other competitor in this space, especially for patents being filed in English. Eastern Europe is the frontrunner in multi-lingual patent outsourcing service.
Source: The Timesof IndiaFiled under Business Process Outsourcing, Enterprise Services | Tags: BPO, India, INtellectual Property, KPO, Patent and legal Outsource, R&D | Comment Below